Apple Inc. is scheduled to hold another hardware launch event Monday.
Wedbush Analyst Daniel Ives maintained an Outperform rating and $185 price target on Apple shares.
Apple is expected to launch a handful of products, led by the MacBook Pro and likely the new AirPods 3, Ives said in a note.
Apple’s decision to launch two key products despite the biggest global chip shortage in decades speaks to the company’s confidence in getting new Macs/AirPods into customers hands by the holiday season, the analyst said.
Apple continues to refresh its hardware ecosystem across the board, the analyst noted. Monday marks the end of a long wait for Mac Pro power users to finally get the new Apple chips on board.
The star of the show at the event will be the new M1Xpowered MacBook Pros with 14-inch and 16-inch models, Ives said. The new MacBook Pros are expected to feature a mini-LED display, an HDMI port, MagSafe for charging, among other new features, he added.
The proprietary M1X processor will be a “game changer” that will convert over 30 percent of current MacBook users to upgrade over the next year, catalyzing growth of this hardware segment, Ives said.
Wedbush also expects a new Mac mini, with specifications very similar to the M1X MacBook Pro, with 16 or 32 graphics core variations and up to 64GB RAM.
The M1X is essentially a new heavy-duty engine being installed into this new MacBook and will be music to the ears of core Mac loyalists, the firm added.
There is a “high likelihood” that Cupertino officially launches the new AirPods 3 at Monday’s event and the bulk of the devices can reach consumers by the holiday season which remains key, Wedbush said.
The AirPods 3 design, the firm said, will follow the Pro AirPods version and have shorter stems than its predecessor with new silicon ear tips and improved battery life.
Apple could ship close to 100 million AirPod units in 2022 if this product officially launches on Monday and hits shelves/websites in time for the holiday season, Wedbush said.
AAPL Price Action
Apple shares closed Friday up 0.75 percent at $144.84.
By Shanthi Rexaline
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